In an interview to CNBC-TV18, market experts Mitessh Thakkar of mitesshthakkar.com and Sanjiv Bhasin of IIFL discuss about how the markets fared in trade on Tuesday. They also answer viewer stock queries.
On Bharti Airtel, Bhasin recommended a hold. “Data is the new gold and in that you have just three players, Jio, Bharti, and Vodafone. I think Bharti will continue to be one of the largest players. We think that this raising of equity will again give it longer term standing. Their ARPUs may have bottomed out and we think this election season you should see a lot of positive numbers coming in the data and on the pricing front. So, I would say stay put and you could look for targets closer to Rs 375 in the next 6-9 months,” Bhasin said.
Answering a viewer query on Sun Pharmaceutical, Thakkar said, “It has kind of broken down again with the last few days of movement and the medium term trend is still on the negative side. However, it is also closer to very important support zones on the longer term charts which is close to about Rs 350 and we had a low of Rs 344 yesterday. I think wait it out. One, accumulate and get your average price lower, if you can get it to around Rs 350-360 zones, keep your stop below Rs 325 and once that is lower, I think any time it is back to Rs 470-480 levels you can exit with some minor profits.”
They also spoke at length about IDFC, Manappuram, Muthoot, and Punjab National Bank (PNB).Follow stock recommendations by Mitessh Thakkar here:
The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.